Attached is an interesting article in Wall Street Journal. Surprising conclusion which many investors (private equity) and foundries alike seem to be carrying is that they will enjoy a pricing and volume as industrial production improves. We believe that dwindling of foundries (from 4100 to 2300 per WSJ article) is an irreversible trend. North American based foundries are at a tremendous cost disadvantage. For foundry industry to survive, they must recognize China / India foundries as their partners and alliances rather than competitors.